Goldman Sachs upgraded TJX to Buy from Neutral with a price target of $110, up from $100. The analyst views TJX as a “best-in-class operator and market share winner.” Against a backdrop of a value-conscious and choice-ful consumer, the company’s relative traffic and comp outperformance should continue to support momentum within its core U.S. businesses, the analyst tells investors in a research note. The firm also believes TJX’s strengthening relationships with brands should drive further merchandise margin expansion, supporting rising profit growth going forward.
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